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WPG is filing for Chapter 11 bankruptcy.
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Offices while clearly wounded, in some places more than others, I don't see them as dead.

In other words at the right price, I would be a buyer of office REITs.

I played this same strategy with SNF REITs to great success 20 years ago and more recently with mall REITs to mixed results.

Speaking of mall REITs did anyone notice that WPG was up 12% Friday. I have been thinking about buying some WPG, especially below $2.
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what is the thesis on the WPG? Are there any other lottery ticket you are looking at?
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My nieces and nephews working in Silicon Valley were mostly already working a lot from home before the pandemic, and that has not changed, but now post peak pandemic when they “go to the office” the office spaces are much more than just a bunch of cubby holes and desks — they are designed with team working and socializing very much in mind.

I think it likely that old style CBD office spaces in vibrant cities will go residential or get significant upgrades to facilitate what gets done well together that cannot be done by zoom etc. I think new work spaces will evolve.

I have held onto my KRC, a specialist non-CBD mostly high tech West Coast quality office building REIT with some multi use buildings as well. So far so good.

https://kilroyrealty.com/


David fb
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WPG is filing for Chapter 11 bankruptcy.
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